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Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the past few years, as more and more traditional banks were exiting the shipping segment. At the present time, the above problems have been aggravated further by a collapsing dry bulk market and an ongoing Euro crisis, said Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied Shipbroking.
According to Mr. Lazaridis “most of these owners, holders of up to five vessels, have been reduced in number considerably over the past 5 years, pressured by a lack in earnings and tougher conditions and low availability in bank finance since the 2008 onslaught. The problems for this significant group of Greek ship owners have been mentioned over and over again. Most of the traditional banks had already retract-ed much of their lending capacity and on the basis that they would take a more con-servative approach to new loans, most of these lenders chose to focus on a smaller cli-entele of larger more prominent names. What made things even worse was the pilling on of new sources of finance, brought about by the numerous funds which got enticed to enter the market supporting only owners of larger fleets and pushing for them to purchase more modern tonnage as well as newbuilding ordering. Having been left out from this inflow of cash has cost most of the smaller owners dearly, as with the excep-tion of the ones holding cash reserves, the rest were left out of any opportunities to modernise their tonnage during a time were prices reached highly enticing levels. This in turn means that most of these owners have been left with overage units which are put under more pressure in the chartering market”, Lazaridis noted in the shipbroker’s latest weekly report.
He went on to note that “what changed now, is that the current conditions in the dry bulk freight market (a mar-ket where most of these small to medium sized owners are involved in) has been hit hard, squeezing earnings down to a minimal. Under such times, owners which would have liked to be able to refinance their vessels in order to achieve a better position in terms of cash flow, have little choice, while those holding overage units are even pushed towards the difficult decision of selling their only vessel for scrap (noting here that scrap prices have taken a strong tumble recently). At the same time the few which were still able to find some support from the Greek and European banks which were still willing to keep their long relationships with these owners, found themselves under pressure as the current problems tackled in Europe are causing a further cautioning by banks which are afraid of being caught up in further restrictions of available cash as well as losses brought about their exposure in sovereign debt bonds and in general a higher rate of loan defaults. For anyone who has been around for many years in the shipping industry, this is nothing new and during past market collapses there has al-ways been many which have found themselves being pushed out of the market”.
Allied’s analyst added that “this time around though it is vital that we have a continuation of this large group of Greek owners (accounting for over half of Greek shipping companies), as they are the ones which are likely to provide the largest portion of support from shipping to the Greek economy during its time of difficulty, continually providing a stream of earnings into the country through the export of a very competitive service and as such support-ing the countries trade balance. Nevertheless, even with an exit of a number of these owners, it will likely be only a temporary one, as the other end of the cycle usually brings an opposite effect. Greek shipping is going through one of its most testing times and it will show its true worth after managing to make it through the worst crisis seen during the past three decades”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
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